September 10, 2001 – Woodbury, NY – Veeco Instruments Inc., said it will acquire a privately-held St. Paul, MN, company that produces materials for semiconductors.
Veeco – which makes electronic measuring equipment used in the making of computer chips – said it would pay $130 million in cash and stock for Applied Epi Inc., a supplier of molecular beam epitaxy equipment used in the manufacturing of semiconductor devices for telecommunications, optoelectronic and wireless markets.
“Applied Epi is a profitable, well managed company,” Edward Braun, Veeco’s chairman and CEO said. “This important addition will allow us to extend our customer base in wireless and other markets.”
Veeco said the deal is subject to regulatory approval, and is expected to close by the end of this month.